Sumit Kochar Advocates and Solicitors (“SKAS”) advised Hindware Home Innovation Limited (“Company”) in relation to its “Fast-track Rights Issue”. The Company has filed a letter of offer with the Securities and Exchange Board of India and the Stock Exchanges on October 24, 2024, for an Issue of 1,13,49,962 fully paid-up equity shares on a rights basis to the eligible equity shareholders aggregating up to ₹249.70 crores (the “Issue”). The Issue opened on November 07, 2024, and closed on November 22, 2024, which subscribed to the extent of 139.82%. The Issue was undertaken by the Company in accordance with Regulation 99 and Part B of Schedule VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.
Company is a prominent player in building products and a rapidly growing player in India’s consumer appliances sector. The company is engaged in manufacturing, branding, marketing, sales, and distribution of a diverse portfolio of products, serving both residential and commercial segments.
SKAS played crucial role, and provided comprehensive legal advisory and strategic guidance to ensure the successful execution of the transaction.
The SKAS team advising on the transaction was led by Sumit Kochar, Managing Partner; Shivam Gera, Partner; Rupa Agarwal, Associate Partner; with support from Jaydeep Saha, Associate; and Rashi Banga, Associate.
On Company’s behalf Payal M Puri, Company Secretary & Sr. V. P. Group General Counsel of the Company; Naveen Malik, Chief Executive Officer and Chief Financial Officer of the Company led the transaction.
Other parties and advisors to the transaction included Finshore Management Services Limited, acted as Lead Manager to the Issue; Cameo Corporate Services, acted as Registrar to the Issue, Axis Bank, acted as Banker to the Issue, and Maheshwari Datamatics Private Limited, acted as Registrar to the Company.
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